An asset that is not a monetary asset. It is an asset that is not in a monetary form: it has a non-monetary value that can change over time depending on market and economic conditions. Examples of non-monetary assets include tangible and intangible assets such as buildings, land, equipment, inventory, and goodwill and patents.

The monetary amount that can be obtained from the sale or disposal of such assets would vary from market to market and point in time to another. Conversion of non-monetary assets into money (monetary form) typically takes time and is effected at no fixed rate.

Non-monetary assets denominated in a foreign currency measured in terms of historical cost are usually recognized in the financial statements using the prevailing exchange rate at the date of the transaction.